CSM Magazine

NOVEMBER 12, 2024

It’s well-known that keeping an existing customer is far more cost-effective than acquiring a new one. This understanding has pushed customer retention to the forefront in many businesses today. Yet, while companies have embraced new marketing strategies, retention strategies often lag, with many relying on outdated methods.

Customer retention 59

Customer retention Analytics SaaS Metrics 59

Beyond Philosophy

NOVEMBER 18, 2014

Colin is an international author of four best-selling books and an engaging keynote speaker. Follow Colin Shaw on Twitter @ColinShaw_CX.

Customer centricity 322

Customer centricity Customer emotions Customer retention Consulting 322

Beyond Philosophy

NOVEMBER 10, 2014

Colin is an international author of four best-selling books and an engaging keynote speaker. Follow Colin Shaw on Twitter @ColinShaw_CX.

Customer Experience 295

Customer Experience Customer centricity Customer emotions Employee engagement 295

Beyond Philosophy

MARCH 5, 2015

View our books on Customer Experience here. The post 3 Examples of Change for the Better in Airlines appeared first on Beyond Philosophy.

Airlines 330

Airlines Transportation Customer centricity Employee engagement 330

Beyond Philosophy

JANUARY 23, 2015

Blogs Leadership CEM CEO Conferences consultants consumer behaviour customer Customer Analysis Customer Behaviour customer centricity customer emotions customer experience books customer experience management customer experiences Customer Loyalty Customer Management Customer Mirrors customer research customer retention customer satisfaction customer (..)

Customer emotions 315

Customer emotions Customer centricity Customer retention Consulting 315

Help Scout

MAY 12, 2021

In this article, we discuss the role of support teams in retaining customers and show how to combine high-quality, empathetic customer service with a deliberate focus on business growth. What is customer retention and how is it measured? Review “lost customer” feedback. Know the numbers.

Customer retention 117

Customer retention Finance Customer effort Analytics 117

Beyond Philosophy

JUNE 28, 2019

Bill Hedgecock, professor at the University of Minnesota in the Carlson School of Management, we explore the power of facial recognition with facial expression analysis software and what it can do to help you improve your Customer Experience. He also studies neuromarketing, which is how the brain works when we make decisions.

Customer emotions 304

Customer emotions Customer retention Consulting Consulting 304

Nicereply

JUNE 18, 2020

Customer retention is the act of keeping customers engaged, creating customer advocates, and reducing churn before it happens. Imagine you never acquired another customer. Your sales team went home, and all you had left was your current group of customers. That’s where customer retention comes in.

Customer retention 125

Customer retention Feedback Surveys Metrics 125

Beyond Philosophy

MARCH 16, 2015

Blogs Customer Experience CEM CEO Conferences consumer behaviour Customer Analysis Customer Behaviour customer engagement Customer experience customer experience books customer experience management Customer Loyalty Customer Management Customer Mirrors customer research customer retention customer satisfaction Emotional Experience Emotional Signature (..)

CRM 305

CRM Employee engagement Customer retention Customer Experience 305

Totango

JANUARY 26, 2021

Utilizing technology makes it one of the easiest ways to keep more customers. Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn. What Is Churn Rate and How Does It Relate to Customer Retention?

Customer retention 94

Customer retention Sales Marketing Big data 94

Totango

AUGUST 16, 2022

Customer Retention Software Cuts Down Client Churn. Customer retention software has become essential for effective SaaS customer success strategies. A winning SaaS business model must prioritize retaining customers, which is far more cost-efficient than acquiring new clients to offset churn.

Customer retention 106

Customer retention Upselling CRM SaaS 106

TechSee

OCTOBER 15, 2019

Customer churn is a growing problem across many industries and managing it has become critically important to the maintaining profitability. Research indicates that the cost of acquiring a new customer can be as much as five to seven times higher than keeping an existing one. Vulnerable customers. trillion per year.

Customer retention 107

Customer retention Airlines Personalization Surveys 107

Beyond Philosophy

OCTOBER 14, 2014

These four actions evoke emotions that develop a relationship built on a foundation of trust, which can flourish into Customer retention and loyalty over time. Make sure that your use of data adds value to their experience. Which companies do you think do a good job with data security? Which ones do poorly?

Customer retention 255

Customer retention Customer emotions Customer centricity Consulting 255

Beyond Philosophy

MAY 31, 2019

Facial recognition technology and facial expression analysis yield some new and exciting data about how customers feel during a Customer Experience. This episode of The Intuitive Customer asks the question Why Are We Scared of New Technology? Why Are We Scared of New Technology?

Technology 239

Technology Transportation Consulting Consulting 239

Beyond Philosophy

OCTOBER 28, 2014

Colin is an international author of four best-selling books and an engaging keynote speaker. Follow Colin Shaw on Twitter @ColinShaw_CX.

Customer Experience 300

Customer Experience Customer centricity Scripts Customer emotions 300

ChurnZero

DECEMBER 6, 2021

Acquiring new customers can be markedly more expensive than retaining existing ones. That’s why performing a customer churn analysis can be powerful in the endeavor to increase customer retention. We dive into seven steps for a successful customer churn analysis. . What is Customer Churn Rate ?

Customer retention 98

Customer retention SaaS Feedback Benchmark 98

Beyond Philosophy

FEBRUARY 24, 2015

Blogs Customer Experience CEM CEO Conferences consultants consumer behaviour customer Customer Analysis customer behavior Customer Behaviour customer centricity Customer experience customer experience books customer experience management Customer Experience Program Customer Management Customer Mirrors customer research customer retention experts insights (..)

Customer centricity 305

Customer centricity Customer retention Consulting Consulting 305

Kapta Customer Success

FEBRUARY 7, 2022

More importantly, you should always be focused on your customers and how you can improve their experience with your brand and products or services. This starts with tracking your churn rate versus customer retention and running churn analysis to discover what's causing customers to go to the competition — and change it.

Accountability 98

Accountability Management Customer retention 98

ShepHyken

AUGUST 23, 2019

Therefore, it’s an excellent feature for increasing sales: the faster you provide information, the greater the likelihood the customer will make a purchase. Customer retention. If the service meets your customers’ expectations, they will be more satisfied with your company — and satisfied consumers buy more.

Customer Service 292

Customer Service Customer retention Self service Sales 292

Beyond Philosophy

OCTOBER 9, 2015

Big data is the gigantic data sets whose analysis could reveal predictions of human behavior. Big data is big news. If we can predict what people will do in a given situation, we can create situations that get them to do what we want. But Big data is only showing us a part of the big picture. In my view this is fundamental.

Big data 410

Big data Consulting Consulting Morale 410

Beyond Philosophy

MAY 14, 2015

Many organizations haven’t addressed a Customer Experience Statement, which serves as a focal point for your Customer Experience program. Nor have they approached their channels from an outside-in approach , which is how we encourage our clients to approach the analysis of their current Customer Experience.

Self service 402

Self service Best practices Customer Experience Call Center 402

Beyond Philosophy

JUNE 20, 2015

More important, it involves utilizing a metric or metrics reflecting real-world decision dynamics such as word of mouth and brand favorability which, along with more actionable forms of analysis, will help them to understand, and prioritze, the drivers of bonded, positive behavior.

B2C 257

B2C B2B Metrics Entertainment 257

ShepHyken

APRIL 5, 2019

These virtual customer experience tools are transforming the way that companies interact with their customers in the contact center environment. When used correctly, chatbots have the power to enhance marketing, sales, customer retention and more. Personalizing the Customer Experience.

Chatbots 304

Chatbots Customer Experience Cloud contact Contact Center 304

Kapta Customer Success

APRIL 29, 2024

Account managers can easily identify cross-sell and upsell opportunities with a white space analysis to increase customer retention and growth. Here’s how.

Customer retention 59

Customer retention Upselling Accountability Management 59

Beyond Philosophy

JULY 14, 2015

This method is not the way to set up a relationship that is open and honest with your current and future customers. 2: Your Customer retention plan includes penalties or fines if they want to end the relationship. Instead, you encourage them to find a new relationship, a competitor who listens to what they have to say. #2:

Customer centricity 366

Customer centricity Customer retention Marketing Customer Experience 366

Beyond Philosophy

DECEMBER 23, 2014

Colin is an international author of four best-selling books and an engaging keynote speaker. Follow Colin Shaw on Twitter @ColinShaw_CX.

Customer emotions 246

Customer emotions Customer centricity Customer retention Consulting 246

Beyond Philosophy

FEBRUARY 10, 2020

Before we can answer these questions, let’s take a closer look at the three types of growth that exist in the marketplace: Traditional Growth: This type of growth is what many people picture when you say the word, and it includes customer retention and customer development activities.

Consulting 430

Consulting Consulting Telecommunications Entertainment 430

ShepHyken

FEBRUARY 16, 2018

Once you have a hefty portion of self-analysis, begin to branch outwards to compare how your experience is perceived compared to industry competition.

Benchmark 217

Benchmark Customer centricity Customer retention Customer Experience 217

Lumoa

APRIL 4, 2023

For a business to flourish, it has to understand its customers well enough to market effectively to them. One of the best ways to do that is through a customer profile analysis. Simply put, this process closely examines current and potential customers’ characteristics, traits, and preferences.

Customer retention 78

Customer retention Enterprise Marketing Surveys 78

ShepHyken

MAY 25, 2020

How to calculate your customer retention rate by Bryce Baer. Rather, consider it a key metric to guide and improve customer retention strategy and retention rate. I was glad to see this article, which includes the formula to measure customer retention. How to calculate your customer retention rate.

Customer Service 159

Customer Service Customer retention Contact Center Marketing 159

Beyond Philosophy

DECEMBER 23, 2015

Today, businesses are able to measure their activities, impact of customer experiences, and customer relationship with unprecedented precision. As a result, they are able to create enormous streams and bases of data – known, collectively, as “Big Data”.

Chief Customer Officer 250

Chief Customer Officer Enterprise Customer centricity Consulting 250

C3Centricity

NOVEMBER 26, 2024

A recent study by McKinsey found that 87% of companies leveraging advanced customer analytics outperform their competitors in customer retention and engagement ( McKinsey ). People expect brands not just to fulfill their immediate needs, but to understand, anticipate, and address their evolving desires.

Banking 116

Banking Feedback Customer retention Marketing 116

Cincom

JANUARY 30, 2025

These data allow businesses to tailor their communication strategy in the right direction to ensure that they are exceeding customer expectations. 1- Plots Customer Journey for Timely Engagement Understanding your customer is the foundation of any communication and retention strategy.

Customer retention 40

Customer retention Customer Experience Analytics Feedback 40

ShepHyken

JULY 26, 2019

Let’s Get Acquainted With the Term Customer Experience. Mainly referring to a customer’s perception of their overall interactions, customer experience has been considered as a critical driver of customer retention and acquisition. It’s way beyond attaining requests and offering assistance or help.

Customer Experience 301

Customer Experience Feedback Customer centricity Customer retention 301

ShepHyken

OCTOBER 6, 2022

Well, again, my observations show that pretty much every team tasked with improving the customer experience and driving more sales and customer retention is doing some form of journey mapping. And they should as it’s probably the cheapest and simple way of finding opportunities to improve the customer experience.

Journey mapping 190

Journey mapping Customer emotions Customer effort B2C 190

customer sure

DECEMBER 21, 2024

What Is Customer Retention? Customer retention is the practice of keeping your customers loyal and engaged over the long term. Why Customer Retention Is Important If customer acquisition feels expensive, it is. Act on Feedback Immediately Customers expect more than surveys; they expect results.

Customer retention 62

Customer retention B2B Feedback Metrics 62

customer sure

JANUARY 20, 2025

Tools like our survey personalisation feature ensure that every customer feels heard, driving satisfaction and trust. According to PwC , AI is revolutionising customer experiences by enabling hyper-personalised interactions. How to Act: Its possible to use tools like ChatGPT for the analysis and get decent results.

Customer centricity 62

Customer centricity Customer retention Feedback Best practices 62